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When to go live

  • #21
  • Aug 26, 2014 2:16am Aug 26, 2014 2:16am
Quoting pzr
Hi everyone, I've been testing diferent strategies, timeframes, indicatores, etc after a fine tune, in the last weeks i´ve got these results attached. The main focus is getting wins and pips and not focusing yet on profit value When should i go live? Feel free to comment, thank you. All the best {image} {image}
When you think you are ready and have the confidence to trade with a live account...and a demo account varies from a live account so a live account trading exp is diff from the one in demo..
  • #22
  • Sep 7, 2014 5:04am Sep 7, 2014 5:04am
From demo trading donot go all in into live trading . open a No Depsoit bonus account first and test your trading system with a live account
  • #23
  • Sep 7, 2014 8:33am Sep 7, 2014 8:33am
Hi,

thanks for the advice. actually i'm in the first phase of live testing i.e. 0.01 lots and testing different timeframes...building up the results, but first trades where unsucessfull because of emotions/anxiety type when i saw that my enters where ok and just needed extratime to trigger the TP i got more confident. And love to trade last week euro crash and pull on different pairs

my next challenge is to raise the lots to the max (according to money management limits). will i got emotionally unstable with higher money on the line? let's see next weeks.

other dilema is pros/cons on working in lower vs higher timeframes and the risks associated im wondering on what fits the best to me...

thank you so much for all your experienced hints i surelly learn something!!!!
  • #24
  • Sep 20, 2014 10:24pm Sep 20, 2014 10:24pm
Agree demo with the same amount youll go live with. No one can answer this question for you, if your worried maybe start with a smaller balance just to test the waters then go from there otherwise keep using the demo until your confidence is up.
~ Stay Green
  • #25
  • Mar 6, 2015 9:15pm Mar 6, 2015 9:15pm
The most popular tip is to go live when you feel confident enough - fron week to several months. My opinion - better to trade on demo for half a year to make sure that you understand what trading is.
  • #26
  • Mar 7, 2015 8:55am Mar 7, 2015 8:55am
There is a massive difference between DEMO and LIVE and that is psychology. The reason for systematic execution is to remove the "knee jerk" factor.
You need to test EXACTLY as your DEMO trading or you haven't proven anything. Or your live trading will just be a moving target.

You may want to put a toe into the systematic world with "quasi" programming using MT4. Of course FIX programming is the "better" route to go, but it is much more involved and the costs and expertise sky rocket.

Best of luck

Shifmanelliott
  • #27
  • Mar 8, 2015 3:37pm Mar 8, 2015 3:37pm
In my opinion one of the most important things when trying with a demo account is to make exactly the same deposit you plan to make with a live account. That way you will have a more realistic sense on the net profit and loses you will be risking. You may discover that starting with 500 EUR is not even enough for the potential profit to be worth your time, and that starting with 10000 EUR you will be risking too much per trade, for example.
  • #28
  • Mar 9, 2015 5:11am Mar 9, 2015 5:11am
Be aware that demo trading can instill false confidence. Demo accounts are generally not reflective of live markets and can respond in a very different a manner as the provider treats the data differently. Sure, use a demo account to get used to the platform and the mechanics of trading, but I believe you won't get any real "education" until you go live. Then you will see true market movements as well as experience the psychology of live trading. It is amazing how different one real dollar is to 100k demo dollars. I am an advocate of starting on a live account with small or mini lots then progress from there. You will make or break a lot quicker. It can be a waste of time playing on a demo account if you really aren't going to cut it live, so save the time so many spend and get to the point. Sounds harsh, but over the years I have seen a lot of great learners and demo traders disappear real quick in the real world.
  • #29
  • Mar 9, 2015 8:21am Mar 9, 2015 8:21am
I agree with people who say that there is a big difference between live and demo in terms of emotions.
I would also say that if you're going to start using live account, you should start with a small amount of money where you're comfortable to lose them.
  • #30
  • Mar 9, 2015 10:37am Mar 9, 2015 10:37am
I'm not an expert but I have some logical advices that will help you . First of all you should allocate the amount of money you are going to trade in forex and open a demo account with 1/2 of that amount . Why is that important? because when making your strategy/demo trading the balance of demo account should less than "or same as" the amount you are going to trade .In theory the strategy that works for low amount of money should work on high amount of money , but the strategy that works on high amount of money doesn't necessarily work on low amount of money . This will help you getting the most suitable strategy for your capital . Second point is after allocating your capital (let's say $1000) and after you've practiced enough open a live account with 1/2 amount . Keep the other 1/2 as a backup for emergency and when you are very comfortable with trading then deposit the other 1/2 .
  • #31
  • Mar 12, 2015 3:03am Mar 12, 2015 3:03am
Quoting pzr
Hi everyone, I've been testing diferent strategies, timeframes, indicatores, etc after a fine tune, in the last weeks ive got these results attached. The main focus is getting wins and pips and not focusing yet on profit value When should i go live? Feel free to comment, thank you. All the best {image} {image}

So pathetic to see newbies, having a row of wins demo, eager up to get into struggle with real market... Like a well-trained soldiers striving for real battle to take off a bunch of enemies and become another hero..

Real trading especially with tricky broker is a quite difficult and challenging because of slippage, market gaps, spread widenings suddenly getting quite frequent incidence comparing to demo. If blown up you don't have a second chance to try again unless you deposit again. And depositing after a loss is a very painful part of trading business, making you lose beliefs in yourself, thinking that it's impossible to earn only to lost there.

One small hint: If you consistently make profit on flat or lightly volatile market then enter real trading without doubts. But in case of volatile pairs or news trading then pay particular attention to slippage. Trading with slippage is like another world
  • #32
  • Mar 12, 2015 3:14am Mar 12, 2015 3:14am
I think you are better go live account trading as soon as possible, because you will learn real experience from live account.
  • #33
  • Mar 12, 2015 4:19am Mar 12, 2015 4:19am
as per my point of view when you still changing in your strategy that mean you are not ready
if you still guessing on opening or closing the positions that mean you are not ready
if by open a position and make money and you don't know why (technically or fundamentally ) that mean you are not ready

so write you system in paper
test your system (some people says 200 position)
then and the most important

Train how to trade with it

there is tons of trading systems that tested and it is profitable but people didnt used to train on it so they lose there cash
just buy a new tested trading system and use it directly and you will lose every single trade because your emotion and feelings will play with you
your eyes didnt used to the trading style


just train and train until you see the trading like drinking water then when you open a live account you will face some emotion that you must test it because now the game became real for you
  • #34
  • Mar 20, 2015 9:54am Mar 20, 2015 9:54am
Trade live as soon as possible but only risk what you are comfortable losing. If you breakeven or make money great, increase your exposure. If you lose the money consider it an investment in your education. Decide either to go back to demo, try again or quit because you couldn't handle your emotions trading really money.

Good luck
  • #35
  • Mar 20, 2015 5:35pm Mar 20, 2015 5:35pm
It is an interesting question "when to go live". All I can say is that it is never too late and it is never too early too. It all depends on your experience and understanding of the market, so assuming you have been using a demo account, you success with the demo account can be useful in making the decision, but then again there is a big difference between using demo and live account. That's why you can always throw in some money you are ready to lose to confirm you abilities via live account. Then after that you will know whether you are ready to completely go live with the intention of making money.
  • #36
  • Mar 27, 2015 4:49am Mar 27, 2015 4:49am
Hi pzr,

there are a lot of opinions on this topic. Basically i would say that you should definitely not trade demo for too long as this can make bad habits creep in. Demo money is not real money and thus psychologically on a different planet - you will lose focus and interest after a while.

You can test and verify your strategies on demo because forward-testing is just as important as back-testing but once profitable for a period of over 4 weeks and a samplesize of around 30 trades, you should fund your first live account - only trade what you are ready to lose. To optimize your strategy and to be honest with yourself and your results, you should also start a journal.

And you should definitely be ready to lose. I know only a few traders which made the transition from demo to live without any bigger impact on their performance. Be brave but don't be arrogant and the market will give you what you need.

Moritz
  • #37
  • Mar 27, 2015 5:26am Mar 27, 2015 5:26am
Quoting cenetti
Demo is no different than Live. Always use the "same amount of money you'd in live" . You are planing to open a $10K live account, first open a $10K demo account and trade couple of months. If you demo with $10K account and then open a $1K live account, you'll lose! Money management/leverage/return/risk etc will be way different. And in forex, it's 50% money management.

Demo and real are as different as heaven and earth. Especially in fundamental trading, on news and economical releases where you'll be exposed to real market state with gaps, slippage, spread widening (particularly on gold), showing excellent results in demo doesn't guarantee you consistent profits on live, even to 10%
  • #38
  • May 15, 2015 1:26am May 15, 2015 1:26am
Quoting leebsurag
{quote} Demo and real are as different as heaven and earth. Especially in fundamental trading, on news and economical releases where you'll be exposed to real market state with gaps, slippage, spread widening (particularly on gold), showing excellent results in demo doesn't guarantee you consistent profits on live, even to 10%
So, the right way is to start live trading with a micro account or with a welcome or no deposit bonus?
  • #39
  • Jun 10, 2015 3:21am Jun 10, 2015 3:21am
for me i'll start trading live acc until i can double my demo and feel confident and steady about my system
  • #40
  • Jun 10, 2015 3:47am Jun 10, 2015 3:47am
There is a difference between demo and live, there's a lot more emotion involved, its good to go Live as soon as possible to experience the shift, but make sure you're comfortable with the ins and outs on the demo accounts, and you're generally performing well before you take the dive.

As it was said earlier, losses when you start a live account are essentially an investment towards your education.

Much of the dive is about confidence and not loosing your nerve when real money is involved, if you've done your research and think that you're ready than this should (hopefully) be minimal.
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